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Investing.com - JMP Securities raised its price target on Planet Labs (NYSE:PL) to $11.00 from $8.00 on Tuesday, maintaining a Market Outperform rating following the company’s strong fiscal second-quarter results. According to InvestingPro data, the stock is currently trading near its 52-week high of $9.71.
Planet Labs reported revenue of $73.4 million for the quarter, representing 20% year-over-year growth and exceeding consensus expectations of $66.0 million.
The satellite imaging company posted adjusted EBITDA of $6.4 million, significantly outperforming the consensus estimate of negative $3.7 million.
Planet Labs achieved its second consecutive free cash flow positive quarter, generating $46.3 million compared to consensus expectations of negative $12.8 million.
The stock has gained approximately 139% year-to-date, including a 48% increase during Tuesday’s trading session, outperforming the Russell 3000 index’s 10% gain over the same period. Based on InvestingPro Fair Value analysis, the stock appears to be trading above its intrinsic value, with technical indicators suggesting overbought conditions.
In other recent news, Planet Labs reported its Q2 2025 earnings, highlighting significant revenue growth and a positive earnings surprise. The company achieved earnings per share of -$0.03, surpassing the forecasted -$0.05, with revenue reaching $73.4 million, exceeding expectations of $66.07 million. Additionally, Planet Labs announced its intention to offer $300 million in convertible senior notes due 2030 to qualified institutional buyers in a private offering. The company plans to grant initial purchasers an option to purchase up to an additional $45 million in notes to cover over-allotments. Northland has raised its price target for Planet Labs to $10 from $8, maintaining an Outperform rating on the stock. The research firm cited that Planet Labs delivered 20% growth two quarters ahead of schedule and showed upside in the second quarter of fiscal 2026. These recent developments underscore Planet Labs’ strategic financial moves and the positive reception from analysts.
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